Economy

News on Indian Economy

India and Morocco Target Doubling Bilateral Trade as Both Sides Explore Preferential Trade Agreement

The Joint Commission was co-chaired during Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada’s visit to Morocco from August 24–25, 2026. India and Morocco reviewed their commercial relationship and agreed that greater market access, diversification of the trade basket and stronger investment partnerships could unlock substantially more economic activity. Bilateral trade reached approximately $4 billion in 2025.

HAL-Safran Sign Final Contract for 3,500–4,000 shp Aravalli Engine to Power IMRH and DBMRH

Aravalli has been selected to power HAL’s planned 13-tonne Indian Multi-Role Helicopter (IMRH) and its naval derivative, the Deck-Based Multi-Role Helicopter (DBMRH). These platforms are being developed to provide the Indian Armed Forces with a new generation of medium-lift helicopters capable of performing troop transport, air assault, logistics, search-and-rescue and other demanding missions. The naval DBMRH is intended to extend the concept to shipborne operations for the Indian Navy.

Ahmedabad-Based Gridbots Develops Indigenous BRUTE-TLH Tactical Load Hauler for Battlefield Logistics

The BRUTE-TLH is the logistics configuration of Gridbots’ larger BRUTE 6×6 unmanned ground vehicle platform, which has been designed and manufactured in India for defence and homeland-security applications. The company’s currently published technical specifications list a 250 kg direct-loading payload capacity for the Tactical Load Hauler configuration.

India’s Steel Sector Maintains Growth as Finished-Steel Output Reaches 54.3 Million Tonnes

Domestic consumption expanded considerably faster. India consumed 55.9 million tonnes of finished steel during April–July, up from 51.9 million tonnes during the same period of 2025, representing year-on-year growth of 7.8%. The increase highlights the continuing strength of India’s internal steel market as infrastructure development, urban construction, railways, automobiles, engineering and manufacturing generate additional demand.

India Joins IAEA Maritime Nuclear Initiative to Explore Nuclear-Powered Commercial Ships and Floating Power Plants

The initiative, called Atomic Technologies Licensed for Applications at Sea (ATLAS), was launched by the International Atomic Energy Agency in Washington on August 26, 2026. India participated in the ministerial-level launch through Atomic Energy Commission Chairman and Department of Atomic Energy Secretary Dr. Ajit Kumar Mohanty, placing the country among nations examining how advanced nuclear reactors could eventually be integrated into civilian maritime infrastructure.